Digipay Guru

  Near-field communication (NFC) technology has become a great solution for seamless and contactless transactions as businesses migrate toward more modern and efficient payment systems. NFC payments provide speed, simplicity, and ease for businesses like yours and your customers. Like any new technology, though, security issues surface.  This article will give you a thorough view of the security value of NFC payments and why you ought to provide them with thought in your payment systems. What Is NFC and How Does It Work? Usually a few centimeters, NFC is a type of wireless communication whereby two devices exchange data over limited distances. Contactless payment systems, in which a customer's smartphone, NFC-enabled device, or even NFC prepaid cards can send payment data to a point-of-sale (POS) terminal, extensively rely on this technology. NFC technology is unquestionably convenient, but knowing the security mechanisms underlying it is essential to ensuring that you and y...

We are living in a digital age where convenience, rich shopping experience, and faster transactions have become a norm. eCommerce sites and applications powered by fast and   secure payment solutions   are majorly responsible for bringing this digital revolution in this space. This is the reason why many customers now prefer to shop online than going to a brick-and-mortar store. This digital revolution has also pushed brick-and-mortar stores to reinvent their offerings in such a way that they can offer an online shopping experience at their retail stores itself. And that’s the reason why retail stores across the globe are now adopting mPOS solutions to offer a rich shopping experience to their customers. But what is the mPOS solution and how does it work? In this blog, we will discuss the same along with discussing the reasons why retailers must go for an mPOS solution if they want to survive in this digital era. READ MORE :   online shopping experience with mPOS sol...

  Digital payment technologies have evolved tremendously over the past few years and will continue to do so as the pandemic transforms how people do business. A recent   Rapyd survey   reveals that 60% of consumers will be using digital and   cashless payments   due to growing health concerns. Although its growth potential is promising, shifting to digital payments have created new issues for retailers and businesses, with most customers raising concerns on security, accessibility, and control spending. Are digital payments secure? According to  PR News Wire , over two-thirds of digital payment users are worried about the security of performing online transactions. This is because digital payment services gather their personal information, increasing the risk of suffering data breaches. These systems are also not immune to technical problems and outages that could impact the customers’ access to funds. While electronic payment risks are inevitable, business...

The COVID-19 pandemic has majorly affected all our lives. Use of masks, sanitizers, and following social distancing protocols has become part of our daily lives. Even the businesses have adopted social distancing norms to survive in these dire times. Switching to social distancing mode has been difficult for those businesses which rely more on cash transactions and other payment modes which involve physical touch. The retail industry is a perfect example of this. However, the retail industry has found its saviour in the form of contactless payments. In this article, we will see how  contactless payments  are becoming the new normal for the retail industry. READ MORE :  How contactless payments are becoming the “new normal” for the retail industry

  We all remember those childhood days when landlines and mobile phones used to be a big deal. The technology which enabled us to talk with our friends and loved ones anywhere and anytime was perceived as a huge upgrade from writing letters that would take days or even weeks to reach to the receiver. This was precisely the reason why the telecom industry emerged as the most powerful force of transformation. To give you the perspective, it would be safe to say that it was as powerful as today’s cutting-edge technology like Artificial intelligence, IoT, Banking APIs, etc. Cut to the current times, when telecom infrastructure is no longer an attractive marketing proposition. It’s because connectivity and communication have become a necessity rather than a luxury. As per  Statista , there are around 4.66 billion internet users across the world. According to the International Telecommunications Union (ITU), around 97% of the world’s population has the access to the mobile cellular ...

  About Alliance Mobile Solutions is a FinTech startup based in the Bahamas. It aims to offer utmost ease and convenience in person-to-person transfer, bill payments, and merchant payment services via a robust mobile wallet solution. Challenges For top-up and bill-payments, clients had to manually add external vendors and products. However, this task was proving to be very time-consuming. This also meant that if the client decides to expand its services across the globe then he has to add every external vendor manually, which would be simply impractical. So, it was a huge challenge for us to make this task quick and feasible. Read more : F eature-rich digital wallet solution

  The need for electronic payment systems has grown dramatically after the inception of online shopping and eCommerce websites. The E-payment system made it convenient for the customer to pay for anything at any time. This convenience has created emerging opportunities for businesses to extend their operations in remote areas without any geographical limitations. The COVID-19 pandemic has increased the need for electronic payment systems as it has forced people to stay at home. People are unable to go out of their homes because of lockdowns and strict social distancing norms.  So they have started using online shopping platforms for ordering daily necessities. Many businesses have started offering products and services via eCommerce platforms. Online business is the safest way for the owners to continue their operations even in the pandemic.  However, businesses need to work on their electronic payment systems if they want to provide better service. READ MORE : ...

  We are living in the time of a great transition. The transition from cash to cashless. The   digital payment solutions   have challenged the century-old supremacy of cash with the help of cutting-edge technology which makes payments simple, fast, and secure. This is the reason why we are seeing many industry verticals going cashless. Following the footsteps eCommerce, food delivery, and taxi industry, the amusement park industry is also adopting  cashless payment solutions  at a large scale. Over the past few years, many amusement parks around the world have started to leverage cashless RFID ticketing solutions. The trend began with Disney when they started issuing MagicBand in the year 2013. Soon a lot of amusement parks did the same. Many of you might think that using regular paper tickets might be a cheaper option for the theme parks. However, RFID cards and wristbands offer a way more benefits. In this article, we are going to see how RFID based cashless s...

  An average privileged person enjoys several banking instruments like depositing/withdrawing money in a savings account, using ATM facilities and making digital transactions at grocery stores & mall, and many more. However, not everyone around the world enjoys these perks. According to the World Bank, around  1.7 billion  people in this world don’t have any access to the banking facilities. Yes, it might come as a surprise to many readers but a huge chunk of the global population is still unbanked. But why is it so? Let’s have a look. Why people are unbanked? To understand this situation let’s take the example of the United States of America. According to a survey by FDIC, around 7% of the American households are unbanked. This is significant as it amounts to 9 million households that have no access to a savings account or checking account. They don’t have any credit cards or direct deposits too. In simple words, these people don’t utilize any mainstream financial se...

  In today’s world of cut-throat competition, every interaction with the customer matters as it provides you with an opportunity to leave an everlasting impression on them. Almost all the major companies in the world believe and implement this philosophy. There are many companies that have extensively focused on customer satisfaction by offering innovative products and services. For example, Alibaba and Amazon have changed the way people shop. Similarly, WhatsApp and Facebook have changed the way we connect with people across the world. In the industry of financial services, customers are always at the centre of all key operations. Financial institutions incessantly try to improve and come up with better methods to attract and retain customers. However, it does come with its sets of challenges as customers expect the same convenience at  banks and financial institutes  that they experience with that of Amazon and Facebook. Nowadays, customers put banks and financial insti...

Today’s consumer demands a top-notch convenience, speed, and a wider-range of choices on how they can manage all their transactions and payments.  Such high demand from the customers coupled with cut-throat competition makes it extremely difficult for businesses to even survive. Mobile money has emerged as a perfect solution for not only banks but also for various FinTech businesses to deal with the above-mentioned issues. It has reduced the dependency on cash and has powered customers to access banking services at utmost ease. But what mobile money actually is? And how it has driven both revenue and customer experience. In this article, we are going to discuss the same. So, without any further ado, let’s start. READ MORE :   mobile money and how can it increase revenue and customer satisfaction

Cash is king! This quote is facing a serious threat as the world is marching towards becoming a cashless society. The recent trends suggest that  digital money  will soon replace physical cash. Many countries are making active efforts to remove cash in circulation – Sweden is its prime example. In Sweden, Cash is no longer a king! That’s why it’s also known as the pioneer of the cashless society. In Sweden, buses haven’t taken cash for years. 900 out of Sweden’s 1600 bank branches don’t accept cash deposits. The impact of cashless payments is not only limited to Sweden. The graph below shows an increase in cashless transactions over the years in different regions. Original Source :  Moving towards a Cashless society: Types and major benefits